REDWOOD CAPITAL MANAGEMENT, LLC

CIK

1316622

Location

New York, NY

Portfolio Value

Small $589,867,790

Diversification

Moderately concentrated

Filing Date

Global Rank

#2,406 / 8,622 ▼ 268 · as of Mar 2026

Top Industry

Telecom Services 42.4%

3Y Alpha vs SPY

+40.5%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+293.0%

SPY

+67.9%

Annualised alpha

+39.0%

Max drawdown

−20.4%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

21 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

31.5%

−1.3 pts

Top 5

77.7%

−10.4 pts

Top 10

91.7%

−4.8 pts

HHI

1,695

Moderately concentrated−526

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Communication Services	42.4%	$249,874,631	3
Consumer Cyclical	26.3%	$155,045,077	5
Healthcare	13.6%	$80,415,715	4
Industrials	10.7%	$63,185,139	2
Technology	4.2%	$24,909,666	1
Basic Materials	1.1%	$6,600,348	1
Real Estate	0.8%	$4,519,867	1
Consumer Defensive	0.6%	$3,318,800	2
Financial Services	0.3%	$1,998,547	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

3 positions

Ticker	Company	Δ Shares	Shares	Value
GBTG	Global Business Travel Group, Inc.	+500,000	21,953,816	$122,502,293
TDS	Telephone & Data Systems Inc /De/	+398,702	1,275,282	$53,689,372
MOH	Molina Healthcare, Inc.	+200,000	310,000	$41,323,000
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
AER	AerCap Holdings N.V.	−900,597	404,266	$55,457,209
ECHO	EchoStar CORP	−682,930	1,584,857	$185,539,208
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
VISN	Vistance Networks, Inc.	1,368,663	$24,909,666
MBC	MasterBrand, Inc.	1,286,097	$10,687,466
AERO	Grupo Aeromexico, S.A.B. de C.V.	551,601	$7,727,930
AMWD	American Woodmark Corp	72,402	$2,883,771
KLC	KinderCare Learning Companies, Inc.	1,250,000	$2,750,000
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

21 positions · $589,867,790 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ECHO	EchoStar CORP Communication Services	Reduced	1,584,857	-682,930	$185,539,208	−24.7%	31.45%
GBTG	Global Business Travel Group, Inc. Consumer Cyclical	Added	21,953,816	+500,000	$122,502,293	−25.4%	20.77%
AER	AerCap Holdings N.V. Industrials	Reduced	404,266	-900,597	$55,457,209	−70.4%	9.40%
TDS	Telephone & Data Systems Inc /De/ Communication Services	Added	1,275,282	+398,702	$53,689,372	+49.4%	9.10%
MOH	Molina Healthcare, Inc. Healthcare	Added	310,000	+200,000	$41,323,000	+116.5%	7.01%
VISN	Vistance Networks, Inc. Technology	NEW	1,368,663	NEW	$24,909,666	NEW	4.22%
ELV	Elevance Health, Inc. Healthcare	Held	84,800	0	$24,825,200	−16.5%	4.21%
CZR	Caesars Entertainment, Inc. Consumer Cyclical	Held	420,000	0	$11,100,600	+13.0%	1.88%
MBC	MasterBrand, Inc. Consumer Cyclical	NEW	1,286,097	NEW	$10,687,466	NEW	1.81%
OPTU	Optimum Communications, Inc. Communication Services	Held	8,189,270	0	$10,646,051	−21.2%	1.80%
MSC	STUDIO CITY INTERNATIONAL HOLDINGS Ltd Consumer Cyclical	Held	3,239,073	0	$7,870,947	−31.5%	1.33%
AERO	Grupo Aeromexico, S.A.B. de C.V. Industrials	NEW	551,601	NEW	$7,727,930	NEW	1.31%
UNH	Unitedhealth Group Inc Healthcare	Held	27,500	0	$7,441,225	−18.0%	1.26%
CNC	Centene Corp Healthcare	Held	208,500	0	$6,826,290	−20.4%	1.16%
MERC	Mercer International Inc. Basic Materials	Held	4,648,133	0	$6,600,348	−28.3%	1.12%
CBL	Cbl & Associates Properties Inc Real Estate	Held	117,613	0	$4,519,867	+3.9%	0.77%
AMWD	American Woodmark Corp Consumer Cyclical	NEW	72,402	NEW	$2,883,771	NEW	0.49%
KLC	KinderCare Learning Companies, Inc. Consumer Defensive	NEW	1,250,000	NEW	$2,750,000	NEW	0.47%
GOCOQ	GoHealth, Inc. Financial Services	Held	924,244	0	$1,395,608	−29.8%	0.24%
EHTH	eHealth, Inc. Financial Services	Held	467,395	0	$602,939	−72.0%	0.10%
APEI	American Public Education Inc Consumer Defensive	Held	10,000	0	$568,800	+50.5%	0.10%